Stocks to watch: Micron, PepsiCo, Dell, Bed Bath & Beyond and more

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SCREAMER: EMusic.com
emus
shares powered up 21 percent Wednesday after the company said that it was launching a co-branded Web site with America Online's
aol
ICQ, Winamp and Spinner.com units. EMusic.com shares rose 1 3/32 to close at 6 13/32. See Screamers.

U.S. stocks to watch

Agribrands International
AGX, -0.57%
announced, after the closing bell Wednesday, that it posted lower-than-expected net income of $11 million, or $1.04 a share, in the fiscal second quarter. Analysts polled by First Call expected a profit of $1.12. In the year-ago quarter, the company made $7.8 million, or 72 cents a share. The maker of animal feed and other agricultural products saw its shares rise 1/4 to close at 40 5/8.

Bed Bath & Beyond
BBBY, -1.01%
said, after the market closed, that the company posted better-than-expected earnings in the fourth quarter amid strong sales. Net income came in at $48.4 million, or 34 cents a share, vs. $34.2 million, or 24 cents, in last year's same quarter. Analysts polled by First Call had forecast a profit of 30 cents a share. Total sales rose to $574.5 million from $419.23 a year ago, while same-store sales rose 9.6 percent on a year-to-year basis. Shares rose 1 3/4 to close at 33 1/2 in the regular trading session.

Cabletron Systems
CS, -1.87%
announced, after the closing bell, that fourth-quarter sales hit an all-time high of $381.8 million, up 10.6 percent from $345 million in last year's fourth quarter. The company posted pro forma net income of $28 million, or 15 cents a share, vs. $3.8 million, or 2 cents, in the year-ago quarter. Analysts surveyed by First Call projected a profit of 14 cents. Shares closed off 4 1/4 at 47 3/4. See full story.

After the market closed, Dell Computer
dell
said that its venture capital unit will become an Internet incubator, announcing two executive appointments related to the new strategy. The group appointed Thomas J. Meredith to the post of managing director. Meredith had been Dell's chief financial officer. Shares closed down 2 1/16 at 53 13/16. See full story.

After the close of trading, Micron Technology
MU, -3.49%
announced a 2-for-1 stock split with a record date of April 18. Micron manufactures DRAMs and other semiconductor components, memory modules and personal computer systems. Shares closed at 127 1/4 in the regular trading session.

After the close of trading, The Finish Line
FNL, -0.52%
said it earned $6.5 million, or 26 cents a share, in the fourth quarter, 6 cents ahead of the consensus estimate but lower than the year-ago figure of 27 cents a share. Total sales jumped 10 percent to $166.9 million from $151.6 million a year ago, while same-store sales fell 2 percent in the quarter. The company stated in a press release that it's "cautiously optimistic for the upcoming year due to continued strong footwear sales." Shares rose 1/4 to close at 8 1/2. The Indianapolis-based company is a specialty retailer of athletic footwear and accessories.

After the closing bell, PepsiCo
PEP, -0.60%
said it's on track to meet the first-quarter consensus estimate of 28 cents a share. The company cited healthy volume and revenue trends in its snack and juice businesses and improvement in its beverage businesses. Shares closed up 3/4 at 33 1/4.

Storage-drive maker Seagate Technology
SEG, +0.76%
said, after the market closed, that it's being taken private in a complex, three-way deal in which Veritas Software
VRTS, -2.99%
buys back the Veritas shares and assets that Seagate owns. Seagate stock is up 36 percent since the first of the year but closed down 5 7/16 to 62 3/4 Wednesday. Veritas shares shed 12 7/16 to 142 1/2. See full story.

After the closing bell, 4Front Technologies
FFTI, -0.20%
reported net income of $1.4 million, or 11 cents a share, on revenue of $71 million, compared with $1.8 million, or 16 cents a share, on revenue of $57 million. Analysts polled by First Call expected a profit of 10 cents a share. The stock closed down 1/2 at 29 in the regular trading session.

After the market closed, Tech Data Corp.
TECD, -1.43%
posted net income of $37.1 million, or 67 cents a share, compared with $34.5 million, or 64 cents, in the year-ago quarter. The provider of information-technology products and logistics management services said sales gained 24 percent to $4.8 billion from last year's $3.9 billion in the comparable quarter. The consensus estimate was for a profit of 66 cents, according to First Call. Shares fell 13/16 to close at 29.

U.S. decliners for Wednesday

Armstrong World Industries
ACK, -6.81%
shares fell 5 percent after the company said it expects first-quarter earnings to be lower than analysts' estimates due to softness in European sales and rising raw-material costs. The maker of tile and sheet floor coverings sees per-share earnings of between 65 and 75 cents a share, compared with the $1.20 a share recorded in the year-earlier period. Analysts polled by First Call had projected a profit of 97 cents. Quarterly results are slated for release in late April.Shares fell15/16 to close at 17 15/16.

CDNow
cdnw
shares tumbled 31 percent after the company's independent accountant, Arthur Anderson, said it has "substantial doubt" about the online music seller's viability as a business. CDNow said it believes its cash and cash equivalents will meet payment obligations through Sept. 30. Shares fell 1 9/16 to 3 1/2. See full story.

Hauppauge Digital
HAUP, +0.00%
shares plunged 47 percent after the company warned that earnings would come in below expectations. The developer of analog and digital video for PCs said it sees second-quarter earnings at $200,000, or 2 cents a share -- a dime below analysts' estimates. The product mix has been negatively affected by the slow takeoff of the Digital TV market in the United States, said Ken Plotkin, chief executive officer.Shares lost 18 to 20 1/2.

Mossimo
MGX, -2.22%
shares moved down 50 percent after Cherokee
CHKE, -2.20%
announced the successful completion of a licensing agreement with Mossimo and Target Corp.
TGT, -0.34%
Under the three-year deal, Mossimo will design services and license the Mossimo trademark to Target in return for royalties. The deal begins in February 2001 and is valued at approximately $1 billion. Mossimo shares declined 3 1/45 to 3 1/4. Cherokee shares fell 1/8 to 7 1/2. Target, the former Dayton Hudson, added 3 3/4 to 72 5/8.

NuCo2
nuco
shares sank 19 percent after the company announced that it's teaming up with Coca-Cola Co.
KO, -0.74%
to develop a strategic alliance to provide Coca-Cola fountain customers with dispensing systems, technology and services. NuCo2 is a supplier of bulk carbon dioxide systems and bulk carbon dioxide for carbonating and dispensing fountain beverages. NuCo2 shares lost 3 1/8 to 13 1/8, while Coca-Cola shares rose 2 to 46 7/8.

Palm
PALM, +1.63%
shares fell 9.3 percent. The company said sales surged 116 percent to $272.3 million in the third quarter from $125.9 million in the same period a year ago. The company posted pro forma net income of $15.5 million, or 3 cents a share, compared with $8.7 million, or 2 cents, in the year-ago quarter. The consensus estimate was a penny a share, according to First Call. Shares lost 5 1/8 to 49 11/16. See full story.

TriZetto Group
tzix
shares sank 42 percent after the Internet health-care-services company and information provider IMS Health
RX, +2.49%
unveiled a complex merger arrangement.TriZetto shares declined 24 9/16 to 33 1/2, while IMS was off 4 7/8 to 16 3/4. See full story.

Veramark Technologies
vera
shares dropped 21 percent after the company warned that first-quarter sales would come in "significantly below" the year-ago level. As a result, Veramark anticipates an operating loss in excess of $2 million for the quarter. The company said it expects to return to profitability by year-end, with an increase in sales over the remainder of this year. No estimates were available from First Call. Veramark produces telecommunications management systems and telephone company billing systems. Shares lost 1 3/16 to 4 3/8.

U.S. advancers for Wednesday

Ben & Jerry's
bjica
shares climbed 15 percent after the premium ice-cream maker confirmed reports that a "going private" idea had been put in front of its board of directors. The company said it has held discussions with representatives of Unilever
UL, -0.85%
Meadowbrook Lane Capital and Ben Cohen. The company noted that there were a number of unresolved issues. Shares added 4 13/32 to 34 3/8.

ExciteAtHome
ATHM, -2.16%
shares gained 9.8 percent after the broadband company said it has extended its distribution relationship with AT&T
T, -1.65%
through 2008, and with Comcast
cmcsk
and Cox Communications
COX, +6.02%
through 2006. The cable companies did reiterate, however, their intentions to end exclusivity agreements in June 2002.ExciteAtHome rose 3 3/8 to 37 11/16, AT&T shares added 7/16 to 60 5/16, Comcast shares added 3/16 to 38 1/2 and Cox shares added 13/16 to 45 13/16. See full story.

Federal-Mogul
FMO, -0.49%
shares gained 26 percent following Tuesday's disclosure that a group controlled by investor Carl Icahn has required 5.2 percent of the company. Shares rose 3 3/16 to 15 7/16. See full story.

Montana Power
MTP, -1.63%
shares moved up 4.3 percent when the company said that after a "careful review" it will divest its energy businesses from its Touch America telecommunications unit, pending shareholder approval. The company's board said the decision to change the company's direction was made to allow it to sharpen its focus on the "fast-growing" telecom activities. The stock rose 2 5/18 to 62 1/2.

Schlumberger
SLB, -1.07%
shares gained 5.5 percent, which helped lift the
OSX, -1.06%
up 5 percent. Crude-oil prices fell 71 cents, or 2.6 percent, to $26.30. OPEC oil ministers announced an agreement to raise member states' production by 1.45 million barrels per day. Iran has reportedly said it would agree to the OPEC production increases, which would effectively raise daily production to approximately 1.7 million barrels. Tidewater
TDW, -7.32%
a component of the oil index, shot up 2 5/8 to 32 1/4.See Futures Movers.

Wal-Mart
WMT, -1.58%
shares soared 8.5 percent after the retail giant reportedly said that meat-department workers in an Illinois store had dropped plans to unionize. In February, meat cutters at a Jacksonville, Texas, store voted to unionize their department. Reacting to this news, Wal-Mart said in early March that it would close its meat-cutting operations there and in 179 other stores in six other states. Following that announcement, the stock fell by 4 percent. Shares rose 4 5/8 to 59 1/8. See full story.

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